Tecpro Systems, engaged in providing turnkey solutions in material handling, ash handling, balance of plant (BoP) and engineering, procurement and construction (EPC) contracts, has come out with its initial public offer of 75.50 lakh equity shares of Rs. 10 each with a price band of Rs. 340 to Rs. 355 per share of Rs. 10 face value.
The issue is open from September 23 to 28.The offer comprises a fresh issue of up to 62.5 lakh equity shares and an offer for sale of 13 lakh shares by Metmin Investments Holdings. The proceeds of the issue will be utilised for working capital requirements and general corporate purposes. The company is well-positioned to capitalise on the growth opportunities in the Indian power sector and has order book of Rs. 2,312 crore as on July, 2010.
The company has its design, engineering and marketing offices at Gurgaon, Kolkata, Mumbai, Secunderabad, Ahmedabad, Bangalore and Pune. It has four manufacturing facilities out of which three facilities are located at Bhiwadi, Rajasthan and one at Bawal, Haryana.
